Docs Presentations under one LC

vinodkoli · Post by **vinodkoli** » Wed Jul 08, 2009 1:22 pm

Hi All,

Just have some confusion on how many docs presentations can the beneficiary do under one single LC even in following conditions,
1. Even though LC is expired - In that case the doc presentation will not be in order
2. Even though LC allows part shipments and LC value is exceeded

Is there any provision for this in UCP ?
Is it dependent on that individual bank's practise ?

Regards,
Vinod.

MMM · Post by **MMM** » Thu Jul 09, 2009 6:10 pm

Hi

Your message in not clear but the number of docs to be presented that shows in LC ie if LC shows commercial invoice in five copies you have to present one original and the rest copies or five originals (ref to ISBP).

If you presented two originals and LC asks for one original it will be accpetable and if docs presented after expiry date it will be for collection ie not under LC

Your comments please

MM
CDCS

vinodkoli · Post by **vinodkoli** » Fri Jul 10, 2009 2:50 pm

MMM,

My question is regarding the number of docs presentations under an LC eventhough it exceeds,
1) LC Value
2) Shipments permitted

Regards,
Vinod.

jmitra · Post by **jmitra** » Fri Jul 10, 2009 7:48 pm

dear vinod,

your question is still not clear. i am making a wild guess. if partial shipment is allowed a beneficiary can make as many shipment as it want and present as many set of document as required. not to mention that the shipment must not exceed the permitted volume of goods. even when partial shipment is not allowed, there can be multiple drawing.

ajoy · Post by **ajoy** » Mon Jul 13, 2009 1:45 pm

Dear Vinod,

Are your questions as below:

Can a further presentation (2nd , 3rd 4th as the case may be) be made over and above the amount of LC if the LC amount has been utilized fully i.e. at what point does the LC cease to exist and the further presentation ( 2nd 3 rd or 4th etc) should be treated outside the LC?

Would the answer to this question vary if the LC allows partial shipments/multiple drawings? (Although you don’t mention multiple drawings)

Would the answer be different if the LC specifies a fixed number of drawings?

Does UCP guide us on above questions OR do banks have to manage on their own interpretations and practices?

Did I get your questions right?
Cheers

Ajoy

vinodkoli · Post by **vinodkoli** » Thu Jul 16, 2009 2:10 pm

jmitra & ajoy,

My question is on whether bene can exceed the shipment over & above
1. LC Value (amount) &
2. Volume (goods quantity)

Is it mentioned somewhere ?

Regards,
Vinod.

iLC · Post by **iLC** » Sat Jul 18, 2009 5:43 pm

vinodkoli wrote: My question is on whether bene can exceed the shipment over & above
1. LC Value (amount) &
2. Volume (goods quantity)

Is it mentioned somewhere ?

shipment over the LC value is possible as per article 18. but over shipment of quantity is not allowed as per ISBP 64